WWE Announces Merger With UFC , to Create New Publicly Traded Company.<br />WWE Announces Merger With UFC , to Create New Publicly Traded Company.<br />On April 3, Vince McMahon's World Wrestling <br />Entertainment announced the company <br />has agreed to merge with the UFC.<br />On April 3, Vince McMahon's World Wrestling <br />Entertainment announced the company <br />has agreed to merge with the UFC.<br />CNBC reports that the decision will <br />create a new publicly traded company <br />controlled by Endeavor Group.<br />According to the agreement, Endeavor will <br />control a 51% stake in the new combat sports <br />and entertainment company. .<br />CNBC reports that WWE <br />shareholders will control the <br />remaining 49% of the company. .<br />In a press release, the company revealed that <br />the deal valued the WWE at $9.3 billion, while the <br />UFC, owned by Endeavor, was valued at $12.1 billion.<br />In a press release, the company revealed that <br />the deal valued the WWE at $9.3 billion, while the <br />UFC, owned by Endeavor, was valued at $12.1 billion.<br />News of the deal, which is expected <br />to close in the second half of 2023, sent <br />shares in both WWE and Endeavor down.<br />According to the companies, <br />Ari Emanuel will serve as both Endeavor <br />and the newly formed company's chief executive.<br />According to the companies, <br />Ari Emanuel will serve as both Endeavor <br />and the newly formed company's chief executive.<br />Meanwhile, McMahon will serve as executive chairman <br />and Endeavor President and COO Mark Shapiro will <br />remain in the same roles for the new company.<br />Meanwhile, McMahon will serve as executive chairman <br />and Endeavor President and COO Mark Shapiro will <br />remain in the same roles for the new company.<br />In the UFC, Dana White will remain <br />the organization's president, and WWE CEO <br />Nick Khan will continue to act as president. .<br />In the UFC, Dana White will remain <br />the organization's president, and WWE CEO <br />Nick Khan will continue to act as president. .<br />CNBC reports that the new company, which has <br />yet to be named, will be traded on <br />the New York Stock Exchange as TKO.
